Valley Affordable Housing Projects To Get Cap-and-Trade Funds
A number of affordable housing projects in Fresno, Tulare and Kern Counties are getting a financial boost from the state’s cap-and-trade program. The state’s Strategic Growth Council announced Wednesday that the four developments will receive around $50 million from the program, which aims to reduce residents’ reliance on cars, through supporting "transit-oriented" development.
They include $15.6 million to the Cesar Chavez Foundation for a planned 135 unit apartment complex in Southeast Fresno, which will be situated near the city's future bus rapid transit line. Another Fresno project, from developers Terance Frazier and Mehmet Noyan on Fulton Street will also receive $5.7 million. It is also located near BRT and the proposed high-speed rail station. The mixed use development will eventually house 51 apartments built over ground floor retail, near Chukchansi Park.
In Kern County a farmworker housing development in Wasco is set to receive $18.6 million, and Self Help Enterprises in Tulare County will receive $5.5 million for affordable housing in Lindsay. This is the second round of funding awarded in the program, and is in addition to the $70 million that will be dedicated to Fresno area projects from future cap-and-trade revenues.